The nonprofit marketer of the annual Puerto Rican Day Parade has profited off his role, The Post has learned.

The besieged parade organization’s ad agent, Carlos Velasquez, responsible for bringing major sponsorship dollars over the years, embezzled around $1 million in parade revenues for his own use, state Attorney General Eric Schneiderman is due to announce Thursday.

But Velasquez struck a deal with the AG to repay only about $100,000 of the misappropriated funds over two to three years, sources said.

After a nine-month investigation, Schneiderman found that Velasquez, president of Galos Corporation, charged an inflated price to event vendors, then handed over a much lower amount to the parade board, pocketing the difference, the sources said.

An AG spokeswoman declined to comment.

Velasquez told The Post, “I already received a letter from the Attorney General’s Office saying that I’m not at liberty to comment on his fine until he makes the announcement.”

But parade board members who are being forced to resign over the scandal feel that Velasquez got off scot-free because the AG is barring him from participating only in the Puerto Rican event, but allowing him to continue his work with other Hispanic festivals.

“They’re saying this man stole money and yet they’re allowing him to work with other parades,” said a source close to the Puerto Rican Day Parade.

“It’s just mind-boggling that he’s not being prosecuted.”

Schneiderman also plans to announce the resignation of three of six volunteer board members who run the annual event that draws around 2 million.

More than 80,000 marchers participate in the June parade, which has drawn such celebs as Chita Rivera, Jennifer Lopez and Ricky Martin.

The ousted members are Chairwoman Madeline Lugo, who previously said she was reluctantly stepping down, her husband, Luis Rivera, and treasurer Shirley Cox.

Three other members will be permitted to remain to help stage this year’s Fifth Avenue parade.
But political players are already jockeying to stack the board with cronies.

A source close to the parade said City Council Speaker Melissa Mark-Viverito stands to benefit from the scandal.

She has never been given a prominent role in the parade because she clashed with the now-deposed Lugo.

The speaker is linked to four nominees for the board, including former state Secretary of State Lorraine Cortez-Vazquez, who swore the speaker in to office at a ceremonial inauguration this year.

“This is the progressive way,” another source familiar with the jockeying told The Post.

“The progressives are replacing the old cronies with their own cronies. When someone else engages in cronyism, it’s wrong. But when they do it, it’s OK.”

The AG investigation was sparked by a controversial marketing effort with brewer MillerCoors last year that wrapped what looked like a Puerto Rican flag around Coors beer cans, setting off questions about the sponsorship arrangement.

At the time Mark-Viverito told NY1, “I really am concerned about the mass commercialization of this parade and the mass commercialization of our culture.”